Under the new NCIB, up to 7 million common shares (which represents approximately 1.6% of the company's 433,458,865 issued and outstanding common shares as of October 31, 2026) may be repurchased between November 13, 2026 and November 12, 2027.

Under the NCIB, shares may be repurchased in open market transactions on the TSX, the Nasdaq Global Select Market (Nasdaq) and/or other exchanges and alternative trading systems, if eligible, or by such other means as may be permitted by the TSX and/or Nasdaq or under applicable law, including private agreement purchases or share purchase program agreement purchases if Thomson Reuters receives, if applicable, an issuer bid exemption order in the future from applicable securities regulatory authorities in Canada for such purchases. The price that Thomson Reuters will pay for common shares in open market transactions will be the market price at the time of purchase or such other price as may be permitted by the TSX. Any private agreement purchases made under an exemption order, if applicable, may be at a discount to the prevailing market price. In accordance with TSX rules, any daily repurchases (other than pursuant to a block purchase exception) on the TSX under the new NCIB are limited to a maximum of 181,938 shares, which represents 25% of the average daily trading volume on the TSX of approximately 727,753 for the six months ended October 31, 2026. Any shares that are repurchased will be cancelled.

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